What is WePower? – A Brief Guide for Beginners

Renewable energy is the best kind of energy for so many reasons, one of the most important being that it is inexhaustible. Unlike the conventional energy, renewable energy is green, clean and the best alternative. So many countries around the world are making efforts to be on the green side because it has become pretty obvious that the other way won’t last forever.

Europe is the leading continent in the renewable energy pursuit. Gross annual renewable energy consumption in the EU rose from 7% in 2004 to about 17% in 2014. Power is the force that drives development in any country. Sweden apart from being a very clean country with efficient waste management system, up to 54% of its economy is powered by renewable energy. So many other countries have taken this cue because the environment is ever changing and change is the only constant thing in life.

However, it is not all bed and roses for the renewable energy industry. There is the problem of lack of capital for producers to develop projects. Investors also lack the access to provide investments to these companies that need capital and mot times the process to fund these projects are not transparent. This is where WePower comes in.

The Idea

WePower aims to solve the problem of capital for energy producers and investors. Energy producers will be able to raise capital by selling tokens to investors. These tokens will represent the energy that the producers generate in the future. This way, investors will have an opportunity to invest in renewable energy, putting their money down for a real product while the renewable energy producers would have access to the much needed funds to finance energy production.

The investor who buys these token has 3 options. He can decide to use the energy when it has been produced. He can decide to sell the tokens to another user on the wepower platform and thirdly, sell to the wholesale market when the energy has been generated.

ICO Details

The WePower native currency is WPR. The total supply to be issued has not been announced yet, to be announced close to the token sale date. 55% of the total number will be available for sale and pre-sale. Soft cap for this project is $5 million while the hard cap is $35 million. All unsold tokens will be burned. The pre-sale was ended December 22, 2017 when $3 million was raised. The main sale event is expected to start on the 1st of February, 2018 and last for 14 days with the minimum investment amount being $200 in ETH.

1ETH will give you 4,600WPR tokens before the soft cap of $5 million is reached. After actualizing the soft cap, 1ETH will then give 4000WPR.

Arturas Asakavicius (co-founder) is the chairman of the Lithuanian Fintech Association and is in charge of investor relations and legal modalities of this project.

Kaspar Kaarlep (CTO) has been in the renewable energy sector for quite some time, hiss experience will be an asset to the team.

The advisor bench is made up of leaders in the cryptocurrency and blockchain sector.

Conclusion

Renewable is energy for the future. It is clean and hopefully will replace the conventional energy sources soon. It is only smart to invest in this sector in its early stages and much better it’s on the blockchain. By 2022, WePower’s projection is to have made $7 Billion in renewable energy revenue on its platform; these are big dreams! The project is expected to kick off 9 months after the token sale event. The energy ministry in Estonia has already endorsed this project, a step in the right direction.